Maxim Group Upgrades American Bitcoin (NASDAQ:ABTC) to “Strong-Buy”

American Bitcoin (NASDAQ:ABTC) was upgraded by Maxim Group to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

ABTC has been the subject of a number of other research reports. Zacks Research raised American Bitcoin from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of American Bitcoin in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

American Bitcoin Price Performance

Shares of ABTC stock opened at $6.10 on Tuesday. The stock has a market capitalization of $432.49 million, a PE ratio of -0.81 and a beta of 3.81. American Bitcoin has a 1-year low of $5.04 and a 1-year high of $217.80. The business has a 50-day moving average of $11.40 and a 200 day moving average of $15.97.

American Bitcoin (NASDAQ:ABTC) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($1.35). The company had revenue of $62.12 million for the quarter, compared to the consensus estimate of $74.85 million. American Bitcoin had a negative return on equity of 29.72% and a negative net margin of 69.42%.

Institutional Trading of American Bitcoin

Institutional investors have recently modified their holdings of the company. CWM LLC grew its stake in shares of American Bitcoin by 1,031.4% in the fourth quarter. CWM LLC now owns 17,062 shares of the company’s stock worth $29,000 after purchasing an additional 15,554 shares during the last quarter. Aptus Capital Advisors LLC bought a new position in American Bitcoin during the 4th quarter valued at approximately $33,000. Forty three Eighteen Advisors LLC bought a new position in American Bitcoin during the 4th quarter valued at approximately $34,000. EverSource Wealth Advisors LLC purchased a new stake in American Bitcoin in the 1st quarter worth approximately $37,000. Finally, Kitching Partners LLC purchased a new stake in American Bitcoin in the 4th quarter worth approximately $37,000. 10.21% of the stock is currently owned by hedge funds and other institutional investors.

American Bitcoin Company Profile

Gryphon Digital Mining is an innovative venture in the bitcoin space. Gryphon Digital Mining, formerly known as Akerna Corp., is based in DENVER.